The Einstein Noah Restaurant Group has sold itself to a German firm for $374 million
German Group Buys Einstein Noah Bagel Company for $374 Million
Einstein Noah Restaurant Group, which owns Manhattan Bagel, Noah’s New York Bagel, and Einstein Bros Bagels, has agreed to a $374 million buyout from German conglomerate J.A.B. (formerly Joh. A. Benckiser), reports The New York Times.
JAB currently owns Peet’s Coffee & Team Caribou Coffee, and D.E. Master Blenders, along with other fashion and retail brands including Jimmy Choo and Bally.
Einstein Noah will reportedly operate as a standalone business, and Michael Tattersfield, chief executive of Caribou Coffee, will become Einstein Noah’s chairman.
In a statement for Einstein Noah, chairman E. Nelson Heumann said that the deal was designed to help the company “continue to revitalize our brand, enhance our nationwide footprint and solidify our position as the leader in the fresh-baked bagels industry.”
Einstein Noah’s headquarters are expected to remain in Lakewood, Colo., and the deal “in theory, could yield some breakfast-oriented synergies, in the words of The New York Times.
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Karen Lo is an associate editor at The Daily Meal. Follow her on Twitter @appleplexy.